VST Industries Ltd

About [ edit ]

VST Industries is engaged inter-alia in manufacture and trading of Cigarettes, Tobacco and Tobacco products.(Source : 202003 Annual Report Page No: 93)

  • Market Cap 4,876 Cr.
  • Current Price 3,158
  • High / Low 4,538 / 2,785
  • Stock P/E 15.7
  • Book Value 609
  • Dividend Yield 3.26 %
  • ROCE 48.3 %
  • ROE 36.0 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.26%.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 38.04%
  • Company has been maintaining a healthy dividend payout of 57.87%

Cons

  • The company has delivered a poor sales growth of 4.70% over past five years.
  • Promoter holding is low: 32.16%

Peer comparison

Sector: Tobacco Products Industry: Cigarettes

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
243 290 293 273 305 299 344 292 246 300 287 278
147 201 206 191 190 203 235 197 146 187 187 180
Operating Profit 96 89 87 81 115 96 108 95 99 113 100 98
OPM % 39% 31% 30% 30% 38% 32% 32% 32% 40% 38% 35% 35%
Other Income 8 10 9 11 12 12 11 12 12 15 9 6
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 9 11 10 11 9 9 10 13 9 9 9 8
Profit before tax 95 89 86 81 118 99 109 94 102 119 100 97
Tax % 36% 36% 36% 34% 36% 23% 25% 25% 26% 25% 26% 25%
Net Profit 61 57 55 53 76 76 81 71 76 89 74 73
EPS in Rs 39.66 37.00 35.90 34.34 49.01 49.42 52.77 45.73 49.03 57.34 47.73 47.16

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
471 578 684 669 789 836 883 922 948 1,099 1,239 1,111
401 439 475 488 571 594 646 675 654 746 825 700
Operating Profit 70 139 210 180 218 243 237 248 294 353 415 411
OPM % 15% 24% 31% 27% 28% 29% 27% 27% 31% 32% 33% 37%
Other Income 33 20 26 26 32 18 20 20 25 39 47 42
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 18 24 25 22 27 32 31 37 39 41 42 35
Profit before tax 86 135 211 184 224 229 227 231 279 351 420 417
Tax % 27% 30% 32% 31% 33% 33% 32% 34% 35% 35% 28% 26%
Net Profit 62 95 143 126 150 152 153 152 182 227 304 311
EPS in Rs 40.18 61.53 92.29 81.76 97.24 98.57 99.15 98.13 117.79 146.90 196.93 201.26
Dividend Payout % 75% 73% 70% 76% 72% 71% 71% 76% 66% 65% 52% 57%
Compounded Sales Growth
10 Years:7%
5 Years:5%
3 Years:5%
TTM:-10%
Compounded Profit Growth
10 Years:13%
5 Years:17%
3 Years:20%
TTM:2%
Stock Price CAGR
10 Years:14%
5 Years:13%
3 Years:1%
1 Year:12%
Return on Equity
10 Years:39%
5 Years:36%
3 Years:38%
Last Year:36%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
15 15 15 15 15 15 15 15 15 15 15 15
Reserves 232 249 275 289 313 331 355 524 567 649 772 925
Borrowings 0 0 0 0 0 0 0 0 0 0 0 0
310 374 421 439 427 479 457 259 482 541 610 545
Total Liabilities 557 639 711 744 755 826 827 798 1,064 1,205 1,397 1,486
133 152 163 175 209 198 174 220 195 213 187 173
CWIP 7 0 0 0 0 0 41 1 34 0 13 33
Investments 190 171 224 199 181 171 162 174 416 575 753 887
227 315 324 370 365 457 450 403 419 416 444 393
Total Assets 557 639 711 744 755 826 827 798 1,064 1,205 1,397 1,486

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
53 85 151 118 130 118 132 146 420 290 331 286
-5 -8 -63 9 -18 3 -24 -18 -264 -148 -155 -144
-55 -54 -81 -117 -113 -126 -130 -130 -139 -144 -177 -159
Net Cash Flow -7 23 7 10 -1 -6 -22 -2 17 -2 -0 -17

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 35% 50% 71% 58% 69% 65% 58% 51% 50% 56% 58% 48%
Debtor Days 11 8 7 13 4 5 5 5 11 5 5 5
Inventory Turnover 1.69 1.39 1.32 1.33 1.49 1.27 1.19 1.35 1.64 2.09 2.10 1.61

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
32.16 32.16 32.16 32.16 32.16 32.16 32.16 32.16 32.16 32.16 32.16 32.16
9.52 9.75 9.20 8.87 8.77 7.84 6.81 5.47 4.64 3.57 3.25 2.80
15.50 16.15 17.04 17.88 18.30 18.54 16.69 15.53 15.61 17.05 17.27 17.54
42.82 41.94 41.60 41.09 40.77 41.46 44.34 46.84 47.59 47.22 47.32 47.50

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